BYD Reports Strong Earnings. It and Tesla Are Pulling Ahead.

- Major automakers have largely shunned India when it comes to investing in electric vehicle (EV) assembly plants and battery gigafactories. - However, some leading industry players, including Tesla, Byd, Fisker Motors, Nissan, and Renault, have shown interest in manufacturing EVs and batteries in India. - India has become the world's third-largest auto market and surpassed China as the most populous nation. - The Indian government recently blocked Byd's proposal, potentially due to geopolitical tensions between India and China. - Tesla CEO Elon Musk has expressed optimism about India's EV potential, stating that it has "more promise than any large country in the world."

Electric vehicle maker BYD Co Ltd has announced that its unit, BYD Electronic (International) Co, will acquire the mobility business of Jabil Inc's Singaporean division in China for 15.8 billion yuan ($2.17 billion), expanding its customer base, product portfolio, and smartphone component business.

China's BYD Co Ltd reported a 204.7% increase in first-half profit, driven by record-breaking deliveries and its position as China's top-selling auto brand.

China's top EV maker, BYD, saw a 145% surge in profits in Q2, driven by record deliveries, despite the ongoing EV price war in China.

Chinese electric-vehicle makers NIO, Li Auto, and XPeng have achieved record-breaking delivery numbers, a positive development for both Tesla and BYD, as well as for investors in the EV sector.

Tesla's stock performance has been mixed as of late, facing increasing competition and pressure to release the Cybertruck, but it remains a dominant EV maker with a strong charging network.

Europe's automakers are showcasing their latest electric vehicles at the IAA Mobility car show in an attempt to compete with Tesla and counter the increasing competition from Chinese companies such as BYD and Xpeng.

Tesla was able to boost its sales in China by 9.3% in August, thanks to price cuts.

Chinese car makers BYD and XPeng saw their stock prices rise ahead of a major auto show where they will compete with Tesla, which is making its first appearance at the event in Munich.

China's share of the European electric car market has more than doubled in less than two years, with the UK being the largest market for Chinese electric car brands, as new battery electric technology and lower prices have boosted sales and wiped away concerns about lower-quality cars, posing an "imminent risk" to the European industry, according to industry experts.

Chinese electric car firms, including BYD and Xpeng, are expanding their presence in Europe and challenging traditional automakers in the EV market, capitalizing on Europe's attractive market and stringent regulations pushing towards EV adoption.

BYD, a leading electric car manufacturer, achieved its fourth consecutive monthly sales record in August 2023, selling 274,086 plug-in electric vehicles, although the growth rate has slowed down compared to previous years.

European manufacturers, such as Volkswagen, have an advantage over Chinese EV makers due to their vehicle know-how, quality, and brand legacy, according to VW CEO Oliver Blume.

Tesla and BYD are currently leading the Chinese electric-vehicle market, while Lucid is taking its time to enter the race.

China's passenger vehicle sales experienced growth in August, driven by discounts and tax breaks on environmentally friendly and electric cars, despite a weak economy, and Tesla's share of the Chinese electric vehicle market nearly doubled.

Tesla is expected to benefit from European protectionist measures as regulators crack down on Chinese electric vehicle (EV) competition, causing stocks of Chinese EV companies like NIO and XPeng to plunge.

Summary: Analysts identify two stocks with high potential for investors in the $104 billion EV charging industry, one of which offers a 95% upside.